Question

What payment 7 months from now would be equivalent in value to a $3,300 payment due 23 months from now? The value of money is 2.7% simple interest. Round your answer to 2 decimal places. Show all work and how you arrive at the answer..

294

likes

1470 views

Answer to a math question What payment 7 months from now would be equivalent in value to a $3,300 payment due 23 months from now? The value of money is 2.7% simple interest. Round your answer to 2 decimal places. Show all work and how you arrive at the answer..

$Expert avatar$

Fred

4.4

120 Answers

Solution: For simple interest, A=P\left(1+rt\right) For payment due 23 months, 3300=P\left(1+\left(0.027\right)\left(23\right)\right)

P=\frac{3300}{1+\left(0.027\right)\left(23\right)}

P\approx2035.78 For payment due 7 months, A=2035.78\left(1+\left(0.027\right)\left(7\right)\right) A\approx2420.54 Answer: $2,420.54

Frequently asked questions (FAQs)

Math question: Find the period of the tangent function f(x) = tan(x).

What is the equation of the ellipse with major axis length of 10 and minor axis length of 6, centered at (0,0)?

What is the standard form equation of an ellipse with a horizontal major axis, center at (h,k), horizontal diameter of 10, and vertical diameter of 4?

New questions in Mathematics

𝑦 = ( 𝑥2 − 3) (𝑥3 + 2 𝑥 + 1)

Karina has a plot of 5000 square meters in which she has decided that 60% of it will be used to plant vegetables. Of this part, 12% will be dedicated to planting lettuce. How much surface area of the plot will be used to grow lettuce?

Serum cholesterol levels in men aged 18 to 24 years have a normal distribution with a mean 178.1mg/100 ml and standard deviation 40.7 mg/100 ml. The. Randomly choosing a man between 18 and 24 years old, determine the probability of your serum cholesterol level is less than 200. B. Whether a serum cholesterol level should be judged too high if it is above 7% higher, determine the value of the separation level of levels that are too high. w. Determine a 90% reference range for serum cholesterol level among men from 18 to 24 years old.

There are 162 students enrolled in the basic mathematics course. If the number of women is 8 times the number of men, how many women are there in the basic mathematics course?

Reparameterize the curve r(t)= cos(t)i without (t)j (t)k by the arc length.

-3(-4x+5)=-6(7x-8)+9-10x

What is the total tolerance for a dimension from 1.996" to 2.026*?

Suppose that you use 4.29 g of Iron in the chemical reaction: 2Fe(s) + 3 Cu2 + (aq) 2Fe 3 + (aq) + 3Cu(s ) - . What is the theoretical yield of Cu (s), in grams?

19) If the temperature of -8°C decreases by 12°C, how much will it be? a)-20°C -4°C c) 4°C d) 20°C

30y - y . y = 144

(2m+3)(4m+3)=0

X³-27

Find the number of pounds of nails required for 17850 square feet of drywall if each thousand square feet requires 4.5 pounds of nails.

a survey showed that 3 out of 7 voters would vote in an election. based on this survey, how many people would vote in a city with 25,000 people?

36 cars of the same model that were sold in a dealership, and the number of days that each one remained in the dealership yard before being sold is determined. The sample average is 9.75 days, with a sample standard deviation of 2, 39 days. Construct a 95% confidence interval for the population mean number of days that a car remains on the dealership's forecourt

Given a circle 𝑘(𝑆; 𝑟 = 4 𝑐𝑚) and a line |𝐴𝐵| = 2 𝑐𝑚. Determine and construct the set of all centers of circles that touch circle 𝑘 and have radius 𝑟 = |𝐴𝐵|

Farm Grown, Inc., produces cases of perishable food products. Each case contains an assortment of vegetables and other farm products. Each case costs $5 and sells for $15. If there are any not sold by the end of the day, they are sold to a large food processing company for $3 a case. The probability that daily demand will be 100 cases is 0.30, the probability that daily demand will be 200 cases is 0.40, and the probability that daily demand will be 300 cases is 0.30. Farm Grown has a policy of always satisfying customer demands. If its own supply of cases is less than the demand, it buys the necessary vegetables from a competitor. The estimated cost of doing this is $16 per case. (a) Draw a decision table for this problem (b) What do you recommend?

1. The cost to transport 250 packages of cement 120 kilometers is $600. What will be the cost to transport 500 packages 300 kilometers?

Slope (7,3) and (9,5)

5 1/9 + 2 2/3

What payment 7 months from now would be equivalent in value to a $3,300 payment due 23 months from now? The value of money is 2.7% simple interest. Round your answer to 2 decimal places. Show all work and how you arrive at the answer..

Answer to a math question What payment 7 months from now would be equivalent in value to a $3,300 payment due 23 months from now? The value of money is 2.7% simple interest. Round your answer to 2 decimal places. Show all work and how you arrive at the answer..

You might be interested in